15642 Cypress Park Dr

Wellington, FL 33414

$875,000C

5 bd · 3.0 ba · 3,163 sqft · Built 1996 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,619/mo
• Mortgage (P&I): −$4,589
• Tax + insurance: −$1,481
• HOA: −$104
• Vac / Maint / Mgmt: −$1,810
• Net cashflow: $636/mo
• Annual: $7,629/yr
• Cap rate: 7.16%
• Cash-on-cash: 3.11%
• DSCR: 1.14
• 1% rule: 0.99%
• Cash to close: $245,000

Investor read

• This is a 5-bed/3.0-bath single-family listed at $875k.
• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $862k (1.5% below list).
• It's been on market 39 days — a 3% lower offer ($849k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $849k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#294 in FL, #4,986 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Binks Forest Elementary School (math 85% / reading 85%, grade A+, #35 of 2,144 statewide, top 2%, 1,147 students, 18% FRL); Wellington Landings Middle (math 70% / reading 72%, grade A, #59 of 571 statewide, top 11%, 1,230 students, 29% FRL); Wellington High School (math 57% / reading 65%, grade C+, #102 of 667 statewide, top 15%, 2,688 students, 29% FRL) — zoned schools average 25% FRL vs 52% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 72% at this address vs 50% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Palm Beach average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.3%/yr); 626 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts since 19y ago; this cycle's ask has dropped $85k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $535k; list at $875k implies a 64% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 3.4% in Wellington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• At $8,619/mo this rent would consume 92% of the median local household income ($112k/yr) (locally 1566% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.